On March 18, 2025, the NOVA BHRE paticipated in the online seminar organised by the Belgian Taskforce on Sustainable Finance gathering representative of various Belgian Ministries to discuss theEuropean Commission’s Omnibus Proposal.
In her presentation, Claire Bright highlighted that, rather than being an administrative burden for companies, human rights and environmental due diligence, when adequately carried out, is actually a crucial tool for companies to protect themselves from reputational risks, to align with the growing expectations from consumers, investors, and civil society, to avoid social conflicts and to diminish their risks of liability.
She also underlined that, unlike the Omnibus proposal which is based on very little research and consultation, the text of the Corporate Sustainability Due Diligence Directive, as adopted on the 13thof June 2024, is the result of extensive studies and consultations having led to a balanced compromise which, overall, is very much aligned with international standards such as the UN Guiding Principles on Business and Human Rights and the OECD Guidelines for Multinational Enterprises on Responsible Business Conduct which are, the global norms of reference in the field. The Omnibus Proposal very much departs from these standards, creates legal uncertainty for both companies and policymakers and fails to provide the level-playing field.
